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Oct 8, 2016
10/16
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, emerging economies, we've seen the economies leveraged up. the funds numbers are 250% of global gdp, our numbers are a lot higher than that. but inevitably, we've seen this long trend of ever more indebtedness. but we've seen productivity decline. how do you think about it? do you worry about the amount of debt that is growing and our capacity to to service that debt? >> well, there are two parts to the answer. the one is that in terms of the capacity to service the debt, debt service has not gone up anything like the amount the debt has gone up because interest rates are very, very low. and so the interest burden which is the servicing burden is not, has not, has not risen anywhere like the numbers which have doubled and so forth for debt. but interest rates are very low, and i don't think i'm revealing any secrets if i say that this this -- that at least one member of the federal reserve board thinks that interest rates will be higher five years from now than they are today. and that will make a difference to the amount of debt servicing. s
, emerging economies, we've seen the economies leveraged up. the funds numbers are 250% of global gdp, our numbers are a lot higher than that. but inevitably, we've seen this long trend of ever more indebtedness. but we've seen productivity decline. how do you think about it? do you worry about the amount of debt that is growing and our capacity to to service that debt? >> well, there are two parts to the answer. the one is that in terms of the capacity to service the debt, debt service...
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Feb 26, 2014
02/14
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first the slowdown is persistent even though the economy has recovered. we see a larger slowdown of medicare them private health insurance. that is notable because as others have stressed medicare is not very cyclical and the fact it slows down is not related to the economy. finally to put into quantities and prices that tends to be cyclical or to raise cost sharing prices historically have been much less cyclical and much of the slowdown has been in prices measured in the pce or the spread of consumer price inflation. it is increasingly clear at least an important part of a structural phenomenon. that slowdown started before the affordable care act was passed and factors like a long-term trend of higher cost sharing with blockbuster drugs played a role. there is no question some of the already implemented features include the reduction and private insurers as well as payment reforms incentivize better patient outcome contribute to this trend. a look at the cbo estimates the hca would save $70 billion of medicare but spread out over the years from 2010 th
first the slowdown is persistent even though the economy has recovered. we see a larger slowdown of medicare them private health insurance. that is notable because as others have stressed medicare is not very cyclical and the fact it slows down is not related to the economy. finally to put into quantities and prices that tends to be cyclical or to raise cost sharing prices historically have been much less cyclical and much of the slowdown has been in prices measured in the pce or the spread of...
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Jul 16, 2014
07/14
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economy. we have a lot of issues to deal with and i look forward to your testimony today, chair yellen. thank you. >> thank you, senator crapo. to reserve time for questions, opening statements will be limited to the chair and ranking member. i would like to remind my colleagues that the record will be open for the next seven days for additional statements and other materials. i would now like to welcome chair janet yellen back to the committee. dr. yellen is serving her first term as chair of the board of governors of the federal reserve system. prior to holding this position, dr. yellen served as vice-chair of the board for over 30 years. she has also previously served as chair of the council of economic advisors and president and ceo of the federal reserve bank of san francisco. chair yellen, it's good to see you once again. please begin your testimony. >> thank you. chairman johnson, ranking member crapo, and members of the committee, i'm pleased to present the federal reserve's semiannual
economy. we have a lot of issues to deal with and i look forward to your testimony today, chair yellen. thank you. >> thank you, senator crapo. to reserve time for questions, opening statements will be limited to the chair and ranking member. i would like to remind my colleagues that the record will be open for the next seven days for additional statements and other materials. i would now like to welcome chair janet yellen back to the committee. dr. yellen is serving her first term as...
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Oct 31, 2013
10/13
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i don't think we will see the robust economy we hope for unless we take the wet blanket off the economy added that is this amazing level of debt and deficit that we have not had before. it is unprecedented able say as percentage of gdp we had one of the time, during world war ii, but, yes, we did not have the long-term liabilities we now have. it is unprecedented. talk to people back home thinking about investing, creating something, an innovator, job creator. this is a factor. so, i hope we will do something on the growth aside not just dealing with mandatory spending -- which i think is very much related to what jim clyburn showed us in the chart -- but also tax reform. because all of us, i think, agree -- i heard my colleague from oregon talking -- the current system is antiquated. ron wyden said it is 100 years old and it looks like it. it is obvious to me it is urgent. it is urgent and the corporate side, by the way, because we are losing people, capital, investment, and headquarters overseas. right now people are making the decisions because of our tax code which is not competitiv
i don't think we will see the robust economy we hope for unless we take the wet blanket off the economy added that is this amazing level of debt and deficit that we have not had before. it is unprecedented able say as percentage of gdp we had one of the time, during world war ii, but, yes, we did not have the long-term liabilities we now have. it is unprecedented. talk to people back home thinking about investing, creating something, an innovator, job creator. this is a factor. so, i hope we...
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Dec 5, 2014
12/14
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i suppose north korea is transforming a normal market economy. economy. but if you look at this market economy, the majority of the dictatorships, the economy is very good. and already dictatorship which can develop manufacturing, how economic growth, china, china, south korea, taiwan, singapore, vietnam, all of these countries have developed manufacturing. manufacturing develops. and then you hire more people and pay wages and so on and so forth. and only manufacturing oriented dictatorships, market economies could use this. as as this economy develops we have also seen that democracy development, development, but if you look at primary goods oriented economy, there is no developed democracy. and there is no, we can say, developed a trust building on a certain level. so if you look at russia, russia, central asia, economies are based on primary goods export. market transactions can be having a long history, and and markets can be indebted in any kind of system, but only if the market system based on manufacturing with democracy has produced prosperity an
i suppose north korea is transforming a normal market economy. economy. but if you look at this market economy, the majority of the dictatorships, the economy is very good. and already dictatorship which can develop manufacturing, how economic growth, china, china, south korea, taiwan, singapore, vietnam, all of these countries have developed manufacturing. manufacturing develops. and then you hire more people and pay wages and so on and so forth. and only manufacturing oriented dictatorships,...
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Dec 18, 2015
12/15
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it would not bring any kind of victory and will influence the economy as well considering the economy and considering the social relations between two countries. it is not something that escalation of this crisis is not something that neither government nor turkish public wants at this point. >> well, i want to thank the panel. please join in that and thank you for coming today. i think this is a great panel. thanks. [applause] [inaudible conversations] >> the president will give an end of the year news conference this afternoon before leaving for hawaii. watch live at 1:50 p.m. eastern on c-span3. >> this morning texas senator and republican presidential candidate ted cruz will address supporters at a rally in mechanicsville virginia. we will take you there live at 11:30 a.m. eastern on c-span3. next we'll talk with jeanette greenwood to discuss her book about the migration of african-americans after the civil war. >> they were anti-slavery organizations in worchester, almost every town in the county had one. there were lots of citizens breakouts, quite a few freedmen aid societies o
it would not bring any kind of victory and will influence the economy as well considering the economy and considering the social relations between two countries. it is not something that escalation of this crisis is not something that neither government nor turkish public wants at this point. >> well, i want to thank the panel. please join in that and thank you for coming today. i think this is a great panel. thanks. [applause] [inaudible conversations] >> the president will give an...
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Jun 2, 2016
06/16
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durable economy in the world. that's point number one. point number two, we can make it even stronger and expand opportunity for even more people. but to do that, we have to be honest about what our real challenges are and we've got to make some smart decisions going forward. is a good place to have a conversation because this s one of the first places that i visited as president. i've been in office just three we wereen i came here. just a few months in what turned to be what was the worst economic crisis in our life times. our businesses were loses 800,000 jobs a month and our auto industry was about to go and our families were losing their savings and their health insurance and as kelly were in danger of losing their homes and was hit harder that most. here would peak at 19.6%. five people here were out of work. was going then that i to have your back and we were going to work hard to bring this economy back. what's happened since then? has loyment in elkhart 4%.en to around at the peak of the crisis nearly one
durable economy in the world. that's point number one. point number two, we can make it even stronger and expand opportunity for even more people. but to do that, we have to be honest about what our real challenges are and we've got to make some smart decisions going forward. is a good place to have a conversation because this s one of the first places that i visited as president. i've been in office just three we wereen i came here. just a few months in what turned to be what was the worst...
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May 3, 2016
05/16
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economy. i come from manufacturing part of the country. they make our manufacturers so much less competitive, and those jobs go to other countries, say china or india, who aren't doing anything to fix this generally speaking. and they'll just pump more dirty air in the atmosphere and take our jobs. i hate to say it so starkly. so let's not do that. let's not unilaterally disarm our economy. why don't we focus on getting faster economic growth, cleaning up our act. natural gas is an incredible bridge fuel, we've got a lot of it now that we have this new technology. and let's invest in research. this is -- one of the things people don't realize about us is in the last budget agreement we did our big interest was saving our military from another round of sequestration, but the domestic spending equation is we put more money into research, basic health research, more money into scientific research to find out -- research on fusion, how do we get nuclear energy so that we have renewable and no wast
economy. i come from manufacturing part of the country. they make our manufacturers so much less competitive, and those jobs go to other countries, say china or india, who aren't doing anything to fix this generally speaking. and they'll just pump more dirty air in the atmosphere and take our jobs. i hate to say it so starkly. so let's not do that. let's not unilaterally disarm our economy. why don't we focus on getting faster economic growth, cleaning up our act. natural gas is an incredible...
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Oct 7, 2015
10/15
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also known as the sharing economy or the gig economy. the on-demand economy is allowing millions of professionals across multiple industries to connect directly with consumers. the most obvious examples, folks, are companies like uber and airbnb. last week it was announced that amazon and google would be entering the on-demand market. right behind these giants are thousands of small innovative startups and if you haven't heard about them yet, just wait. the on-demand platform is one example of an important truth facing us in this election. which is that the american economy, as the global one, is fundamentally being transformed. uber didn't even exist when our current president was sworn into office. and today it is worth over $51 billion. and it's not just the fact that the economy is changing. the fact is that the economy is changing faster than it has ever changed. for example, it took the telephone 75 years to reach 100 million users. it took candy crush one year to reach 100 million users. [laughter] and yet while our economy is cha
also known as the sharing economy or the gig economy. the on-demand economy is allowing millions of professionals across multiple industries to connect directly with consumers. the most obvious examples, folks, are companies like uber and airbnb. last week it was announced that amazon and google would be entering the on-demand market. right behind these giants are thousands of small innovative startups and if you haven't heard about them yet, just wait. the on-demand platform is one example of...
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Jul 16, 2014
07/14
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economy makes. but i think that's consistent with the forward guidance that's contained in the fomc statement as well. >> thank you. based on the minutes of the most recent fomc meetings, the discussion of monetary policy normalization has become an important topic for the committee. one of the strategies that is discussed is that the fed will drain reserves by lending its securities out to the market as a part of reverse purchase agreements or repos. there is concern that such a facility would be a safe haven in times of market stress, attracting large funds, and depriving business of credit. is this a concern of yours, and how would the fed address the potential that the facility could aggravate a market crisis? >> well, let me say that these are matters that we are discussing in an ongoing basis and no final decisions have been made about the precise strategy that we will use when the time comes to normalize monetary policy. but we have tried to provide in the minutes a very good summary of the t
economy makes. but i think that's consistent with the forward guidance that's contained in the fomc statement as well. >> thank you. based on the minutes of the most recent fomc meetings, the discussion of monetary policy normalization has become an important topic for the committee. one of the strategies that is discussed is that the fed will drain reserves by lending its securities out to the market as a part of reverse purchase agreements or repos. there is concern that such a facility...
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Sep 23, 2016
09/16
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economy is doing. growth was weak in the first half of the year, we're seeing evidence that the economy is now expanding more strongly. as i mentioned, payroll gains in recent months have been solid, averaging around 180,000 per month which is less than the pace in 2015, but as i mentioned, it's well above what's needed to provide jobs for new entrants into the labor force, over time. the unemployment rate is pretty close to most estimates of its longer run equilibrium value. but as i mentioned that rate and other measures of labor utilization are little changed since the beginning of the year. i don't see that as bad news because it may reflect that the strong labor market is attracting people from outside the labor force back into employment. the labor force participation rates increased on balance since late last year. it is on a declining demographic trend and the fact that it increased shows substantial number of people that are being attracted into the labor market. the employment to population r
economy is doing. growth was weak in the first half of the year, we're seeing evidence that the economy is now expanding more strongly. as i mentioned, payroll gains in recent months have been solid, averaging around 180,000 per month which is less than the pace in 2015, but as i mentioned, it's well above what's needed to provide jobs for new entrants into the labor force, over time. the unemployment rate is pretty close to most estimates of its longer run equilibrium value. but as i mentioned...
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Jan 15, 2014
01/14
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economy created one million jobs in one month. we're so far behind our potential where we should be. that is point number one. everything we have done in the last six years has been in the wrong direction. my colleague was asked about a year ago exactly when president obama was giving his state of the union for the start of the second term, what advice would you give obama? he put it so well. he said, what i would advise obama to do is look at everything you did on the economy in the first term and do just exactly the opposite in the second term. there is a lot of truth to that. second point, i wanted to make clear how this report dovetails into the big goings-on now about inequality, poverty, and what we can do to move the 50 million americans that are poor today out of poverty, and we have seen horrendous increases in poverty. it is one of the great challenges we have as a nation now is, how do we get the people at the very bottom up? we have a president and many in congress who are promoting many policies that i would argue --
economy created one million jobs in one month. we're so far behind our potential where we should be. that is point number one. everything we have done in the last six years has been in the wrong direction. my colleague was asked about a year ago exactly when president obama was giving his state of the union for the start of the second term, what advice would you give obama? he put it so well. he said, what i would advise obama to do is look at everything you did on the economy in the first term...
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Oct 11, 2013
10/13
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we have a lot of work to do, we can see from the economy that people are beginning to feel that the economy is moving in the right direction. if you create a crisis that causes assets to shrink in value for retirees, they do not have time to catch up. even if it rights itself over a period of time, the retirees are in a bad spot. it is very unfair to have manufactured crises that have a on workingmpact americans and retirees who ought to be able to worry about market risks, not government policy risks. >> let me ask you about the effect of default on the deficit. budget sequestration has not been an ideal instrument, not perfectly targeting for driving on the part -- the budget deficit. it has produced savings that accrue to the benefit of the american taxpayer. in the event of a default or near default, is it fair to say that some of those budget savings would be eaten up to pay higher interest costs, a substantially amounts of which would go to foreign governments and foreign creditors. week have suggested this that for the bills that mature rates end of october, the have almost tripled o
we have a lot of work to do, we can see from the economy that people are beginning to feel that the economy is moving in the right direction. if you create a crisis that causes assets to shrink in value for retirees, they do not have time to catch up. even if it rights itself over a period of time, the retirees are in a bad spot. it is very unfair to have manufactured crises that have a on workingmpact americans and retirees who ought to be able to worry about market risks, not government...
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Feb 12, 2014
02/14
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as you said, in a global economy, economies are interconnected. monetary policy does have exchange rate impacts. i see the bank of japan's policy is intended and at least it looks favorable for now. seems to be moving inflation out of deflation territory. and toward their 2% objective. to the extent that the policy is designed to stimulate domestic demand and it looks like it has raised growth in the japanese economy, of course, they have continuing problems and the need for, you know, to put in place policies to address their high debt and budget deficits, but to the extent that they're successful and japan grows more quickly, i think that will be something that will read down to the benefit of japan's neighbors if japan has stronger domestic spending, growth, there will be benefits throughout the global economy. but there are exchange rate implications of those policies, as well. >> certainly, if they have closed markets, even if you have stronger domestic markets and not allowing american autos, for example, to be sold in japan, it's a detrimen
as you said, in a global economy, economies are interconnected. monetary policy does have exchange rate impacts. i see the bank of japan's policy is intended and at least it looks favorable for now. seems to be moving inflation out of deflation territory. and toward their 2% objective. to the extent that the policy is designed to stimulate domestic demand and it looks like it has raised growth in the japanese economy, of course, they have continuing problems and the need for, you know, to put...
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Feb 28, 2014
02/14
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economy. i look at it this way. if you're someone who is making minimum wage and you get your wage increased to about $10.10. that extra money is not going into a savings account or something in the future. you're probably going to be buying things right now. you're going to buy a sofa maybe. the average c.e.o. now makes 354 times when the average worker makes. back in the late 1980's it was 40-1 ratio. now it's 354 times. when we put money into an average low-wage worker, that money goes immediately into the economy. they can buy a sofa. but when the gains that we've had in this country have gone largely to the top executives, the top 1%, top 1% and 2%, how many sofas can you buy at that rate and how does that affect the economy? do you have any idea how many sofas you could buy if you're a c.e.o. to try to keep up with this and help stimulate the economy? mr. cartwright: if stacked end to end, how far into space would those sofas reach is the question. it's a great point, mr. pocan, and of c
economy. i look at it this way. if you're someone who is making minimum wage and you get your wage increased to about $10.10. that extra money is not going into a savings account or something in the future. you're probably going to be buying things right now. you're going to buy a sofa maybe. the average c.e.o. now makes 354 times when the average worker makes. back in the late 1980's it was 40-1 ratio. now it's 354 times. when we put money into an average low-wage worker, that money goes...
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Feb 17, 2015
02/15
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energy has played a huge role helping our economy gains steam. i was wondering when i started working on this, how much of factor that was. it turns out it is hard to quantify what role it has played in the recovery. i talked to a guy who has studied this and his estimate was about .5 points of gdp growth. it is significant, but not definitive. host: from stillwater minnesota, the independent line. up next is derek did go ahead. caller: good morning. i guess i'm a little confused about anything that i would see with obama and reagan next. it just does not look right. i guess my comment would be if i were to play into theme, what do we have, i bet you the nation would have thought that reagan was the most trustworthy president. where do we look at our president today? he is probably the most deceitful when it comes to directly lines people to pass laws. as we know with the aca. he uses political capture gold -- political capital to tear up p apart and consolidate the health-care care industry. that was passed pretty much 100% democrats versus any
energy has played a huge role helping our economy gains steam. i was wondering when i started working on this, how much of factor that was. it turns out it is hard to quantify what role it has played in the recovery. i talked to a guy who has studied this and his estimate was about .5 points of gdp growth. it is significant, but not definitive. host: from stillwater minnesota, the independent line. up next is derek did go ahead. caller: good morning. i guess i'm a little confused about anything...
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Dec 8, 2015
12/15
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economy, but i believe it remains higher than it ought to be in a so-called full employment economy. in addition, there are also discouraged detached workers and a fair number of them, again, that's come down, too, again, i see margins of slack and i think they're flekted. >> thank you. >> thank you, mr. chair and thank you, chair jeyellin, for being here. i'm going to follow up. it's more along the cumulative impact that i have concerns with from the regulatory perspective, that financial institutions in the financial sectors had to deal with. i'm thinking of the recent adoption of capital surcharges, this tlac proposal. can you describe a little bit what these changes mean on an accumulative bases, on the industry and economy and in particular, this cost benefit analysis. have you done or has it been talked about doing a more comprehensive cost benefit analysis of what the cumulative effect of these regulations have on the industry and the economy and i'm just thinking about this regulatory rule book has been a constant state of revision for the last six years. maybe describe that
economy, but i believe it remains higher than it ought to be in a so-called full employment economy. in addition, there are also discouraged detached workers and a fair number of them, again, that's come down, too, again, i see margins of slack and i think they're flekted. >> thank you. >> thank you, mr. chair and thank you, chair jeyellin, for being here. i'm going to follow up. it's more along the cumulative impact that i have concerns with from the regulatory perspective, that...
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Dec 24, 2014
12/14
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so economies are always adjusting. but you rather have upward rather than stagnation and to wonder is my fifth year-old son is going to leave the house? [laughter] >> thanks for coming out. as part of the minority but i cannot afford gold at all it is $69 for coins but i do carry notes of silver with a. it is a $1,923 is worth about $20 today did what i realized after the past to retreat years is you can buy the same amount of gasoline today as he could have before 1964. before then all quarters or dimes are half dollars were 90 percent silver. that even though it is still $1 you go to a coin shop it is $20 because it is silver the with your $20 bill you to buy the same amount of gasoline so that tells you the price of gas has stayed constant in relation to gold and silver where the price today of gasoline rose not because the price of gas but the purchasing power of the dollar has gone down. of the second most interesting mind blowing fact is than dives is exactly the same plate as this silver dollar in four quarters
so economies are always adjusting. but you rather have upward rather than stagnation and to wonder is my fifth year-old son is going to leave the house? [laughter] >> thanks for coming out. as part of the minority but i cannot afford gold at all it is $69 for coins but i do carry notes of silver with a. it is a $1,923 is worth about $20 today did what i realized after the past to retreat years is you can buy the same amount of gasoline today as he could have before 1964. before then all...
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Oct 15, 2016
10/16
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back to the american economy we deserve and can achieve. i find that troubling. entitlement programs with promises to pay for by taxing the rich and that it. >> host: some programs would increase productivity when expanding the itc. >> it might a one time bump in labor force participation at best. that won't affect long-term productivity. i find that disappointing, trump talks about growth but his policies don't add up in any coherent fashion. when you look at the us economy the most telling feature of it is unlike the postwar period in 2007, living every 35 years the american dream was visible to people, doubles every 75 years, there is nothing in these two candidates that addresses that. >> host: let's talk about the affordable care act, if you are comfortable voting in front of everybody close your eyes, if you think the affordable care act is on track to control healthcare costs and raise your hand think it is not on track. i ask that question every group i speak to end two votes is actually a lot. what has gone wrong that the perceptio
back to the american economy we deserve and can achieve. i find that troubling. entitlement programs with promises to pay for by taxing the rich and that it. >> host: some programs would increase productivity when expanding the itc. >> it might a one time bump in labor force participation at best. that won't affect long-term productivity. i find that disappointing, trump talks about growth but his policies don't add up in any coherent fashion. when you look at the us economy the...
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Jun 2, 2016
06/16
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and durable economy in the world. [applause] point number two, we can make it even stronger and expand opportunity. to do that, we have to be honest about what the real challenges are. elkhart is a good place to have this conversation. this was the first city i visited as president. i have been in office just three weeks when i came here. it turned out to be one of the worst economic crisis of our lifetimes. our businesses were losing 800,000 jobs a month. our auto industry was about to go under. our families were losing their savings and health insurance. as kelly pointed out they were in danger of losing their homes. and elkhart was hit harder than most. unemployment here would peak at 19.6%. that means nearly one in five people here were out of work. and i told you then that i was going to have your back, and we were going to work hard to bring this economy back. [applause] so what has happened since then? unemployment in elkhart has fallen to around 4%. [applause] at the peak of the crisis nearly one in 10 homeown
and durable economy in the world. [applause] point number two, we can make it even stronger and expand opportunity. to do that, we have to be honest about what the real challenges are. elkhart is a good place to have this conversation. this was the first city i visited as president. i have been in office just three weeks when i came here. it turned out to be one of the worst economic crisis of our lifetimes. our businesses were losing 800,000 jobs a month. our auto industry was about to go...
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Jun 4, 2015
06/15
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economy. working families are tired of the endless manufactured crises that the republicans come up with threatening national security and weakening our economy and costing our country jobs. long time passed for congress to act in a responsible way on these initiatives. this afternoon, we'll go to the white house and wearing orange because we have the world champion -- world champions san francisco giants being honored by the united states -- the president of the united states. some will be boarding planes to go to see the warriors compete for the trophy. any questions? reporter: the house is quickly approaching votes on trade and the president does not want changes to the senate bill. can you support that t.p.a. bill as it came from the senate. ms. pelosi: the house is fast approaching -- do you know when this is going to happen? i suppose when they have the votes and we'll see when that is. we have really had a very, i believe, internally respectful process going forward where we have invite
economy. working families are tired of the endless manufactured crises that the republicans come up with threatening national security and weakening our economy and costing our country jobs. long time passed for congress to act in a responsible way on these initiatives. this afternoon, we'll go to the white house and wearing orange because we have the world champion -- world champions san francisco giants being honored by the united states -- the president of the united states. some will be...
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Oct 7, 2016
10/16
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a growing economy is better than a sinking economy or one growing less quickly. people wentve more economy is not growing as fast. growing economies don't necessarily get to where people live. not people working about their children and their opportunities. this is not about tpp. about what we're doing to address the concerns people have that government is to be meeting domestic needs. if we invested more in introduction -- more in infrastructure, training, sure wee, i'm not so would be is a place. this is a broad phenomenon. the hlicy has to reflect igh incomes that are not heavily taxed. thatgives people a sense it is not on the level. i don't think that is an excuse not to do tpp. win thethink you can argument by saying let's grow the economy more slowly. we have to focus on this long-term issues. steve: those are all long-term ideas. you have an urgent timetable to next month.ted how will you do that? sec. lew: the trade promotion authority was a harder vote. it was giving permission agreement.r an i can point to countries where labor standards are being rais
a growing economy is better than a sinking economy or one growing less quickly. people wentve more economy is not growing as fast. growing economies don't necessarily get to where people live. not people working about their children and their opportunities. this is not about tpp. about what we're doing to address the concerns people have that government is to be meeting domestic needs. if we invested more in introduction -- more in infrastructure, training, sure wee, i'm not so would be is a...
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Dec 23, 2013
12/13
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economy. mr. chairman, i thank you for holding this hearing today. some of what i've alluded to in my statement are issues that are being dealt with as we consider the budget today. these issues i've alluded to include of course the unemployment benefit than i understand may not be in the budget agreement. also, i believe that providing trade adjustment and other assistance for those that i appointed to that in the low skilled and are issues that we have not sufficiently dealt with and i'm looking forward to engaging you and others on this issue so we can get at how we will deal with this income inequality that is the central team of my testimony today. i yield back the balance of my time. >> the general idiots that are the chair now recognizes the gentleman from california mr. campbell, chairman of monetary policy and trade subcommittee for three minutes. >> thank you, mr. chairman. welcome, secretary lu. international financial institutions act. there's no shortage of international financial
economy. mr. chairman, i thank you for holding this hearing today. some of what i've alluded to in my statement are issues that are being dealt with as we consider the budget today. these issues i've alluded to include of course the unemployment benefit than i understand may not be in the budget agreement. also, i believe that providing trade adjustment and other assistance for those that i appointed to that in the low skilled and are issues that we have not sufficiently dealt with and i'm...
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Jun 4, 2015
06/15
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we're talking about a significant drag on the economy and economic growth. we're talking about slower income growth for folks. and all of those things are there and one of the things that i think i need to point out is as soon as you start to address this, the less you have to do to fix it because if you wait what you need to do to fix it gets more difld and more difficult. i mentioned one more thing because it relates to what you're saying. the debt has almost doubled since 2007 so our ability to deal with an economic crisis going forward is going to be really hampered with the ability to deal with it is going to be very difficult. that's a really important part of it going forward. we don't want to have another recession. >> let's talk about the fix and what fix is this, as you mentioned. do slightly reforming the programs that are driving our debt medicaid medicare social security, the interest we owe ourselves and other countries, for example that make up 67% are spent, will that do it moving around the edges or will we need total restructuring if they a
we're talking about a significant drag on the economy and economic growth. we're talking about slower income growth for folks. and all of those things are there and one of the things that i think i need to point out is as soon as you start to address this, the less you have to do to fix it because if you wait what you need to do to fix it gets more difld and more difficult. i mentioned one more thing because it relates to what you're saying. the debt has almost doubled since 2007 so our ability...
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Oct 31, 2013
10/13
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passing a farm bill means healthy families and a healthy economy. as a member of the house agriculture committee, i'm proud that we workedded in a bipartisan manner to address the farm bill. we didn't always agree, but put politics aside to find solutions, and i'm hopeful we continue this positive working relationship and deliver a farm bill good for farmers, our family, and food supply. settling for another extension is not good enough. it creates uncertainty for our farmers, stymies critical research, and negatively impacts consumers and the economy. a comprehensive farm bill should include funding for specialty crops representing more than one-third of the value of all crop production per year and increase money for programs like the specialty crop research initiative, specialty crop block grants, and the national clean plant network giving us a great return on investments. a final farm bill should include increasedded funding for programs that support our local organic farmers and growing number of operations around the country. we also must wor
passing a farm bill means healthy families and a healthy economy. as a member of the house agriculture committee, i'm proud that we workedded in a bipartisan manner to address the farm bill. we didn't always agree, but put politics aside to find solutions, and i'm hopeful we continue this positive working relationship and deliver a farm bill good for farmers, our family, and food supply. settling for another extension is not good enough. it creates uncertainty for our farmers, stymies critical...
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Jun 22, 2016
06/16
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he'd rig the economy for wall street economy. well, that will not happen on my watch, i can guarantee you. [applause] i would veto any effort to weaken those reforms. i will defend and strengthen them both for the big banks and the shadow banking system. and i will vigorously enforce the law because we can't ever let wall street wreck main street again. now, second there's donald trump's approach to our national debt. now, i have a plan to pay for all my proposals because i take america's long-term financial health seriously. donald trump has a different approach. he calls himself the king of debt. his tax plan sure lives up to that name. according to the independent tax policy center, it would increase the national debt by more than $30 trillion over 20 years. that's trillion with a t. that's much more money than any nominee of either party has ever proposed. an economist described it with words like not even in the universe of the realistic. how would he pay for all this debt? well, he said, and i quote, i would borrow knowing
he'd rig the economy for wall street economy. well, that will not happen on my watch, i can guarantee you. [applause] i would veto any effort to weaken those reforms. i will defend and strengthen them both for the big banks and the shadow banking system. and i will vigorously enforce the law because we can't ever let wall street wreck main street again. now, second there's donald trump's approach to our national debt. now, i have a plan to pay for all my proposals because i take america's...
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Mar 22, 2016
03/16
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economy. as we were discussing today the possibility exists that the economy might into a recession and the next several years. the current economic expansion is over six years old which is slightly longer than expansion since 1945. over the past 30 years expansions lasting at least six years with really low level of unemployment as we see have fallen into recession within two years. however, length of economic expansions vary greatly as david said. although the longest expansion in the last 11 business cycles has been 10 years we see no statistical evidence that the length of a recovery or an expansion is in and of itself a prediction of an economy going into recession. nonetheless, it is of course risk. so in the latter part of the projections cbo projects that gdp will be one half percent below of a potential and that's because we estimate output has been roughly that much below potential over the last seven complete business cycles. so that projected output you can barely see some daylight
economy. as we were discussing today the possibility exists that the economy might into a recession and the next several years. the current economic expansion is over six years old which is slightly longer than expansion since 1945. over the past 30 years expansions lasting at least six years with really low level of unemployment as we see have fallen into recession within two years. however, length of economic expansions vary greatly as david said. although the longest expansion in the last 11...
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Dec 19, 2013
12/13
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the economy was faltering. it needed an additional boost so we brought in the asset purchase program again. the good and a specific objective which was a substantial improvement in the outlook for the labor market. our sense was once that intermediate objective was obtained that is when the economy had grown and was moving forward at that point we could again to wind down the secondary tool the supplementary tool and achieve essentially the same amount of accommodation using interest rates and forward guidance. and so i do want to reiterate that this is not intended to be a tightening. we don't think it's an inflation problem or anything like that. on the one hand asset purchases are still going to be continuing. we will still be doubling our balance sheet. the total amount of we require are certainly more than was expected in september of 2012 or june of 2013 so we'll have a substantial balance sheet that will continue to hold and then we have clarified her guidance that we will be keeping rates low well past
the economy was faltering. it needed an additional boost so we brought in the asset purchase program again. the good and a specific objective which was a substantial improvement in the outlook for the labor market. our sense was once that intermediate objective was obtained that is when the economy had grown and was moving forward at that point we could again to wind down the secondary tool the supplementary tool and achieve essentially the same amount of accommodation using interest rates and...
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Feb 6, 2014
02/14
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economic growth of of our economy, how fast our economy is growing; insnraition th inflatid one and interest rates which i have alluded to. but according to the congress allege budget offic-- but accort office, if america's growth was just .1% lower, our cumulative debt, the annual difference between twha we collect in taxes and what the government 13e7bdzs over the next ten years would go up by $3 11 billion. that's with a b. likewise, if annual inflation was 1 percentage point above what the congressional budget office projects, our cumulative deficits -- our debt, the difference between what we tbli in tax dollars and what the federal government spends projected over ten years -- it would be $762 billion higher. so that's if just inflation -- you can see with minor changes in the growth rate for inflation can have dramatic consequences in debt of debt. andes, -- and, yes, you don't just have to pay the principal back. you've got to pay the interest on that debt. as i said, while interest rates are at historic lows because of the quantative easing, so-called, that the federal reserve is do
economic growth of of our economy, how fast our economy is growing; insnraition th inflatid one and interest rates which i have alluded to. but according to the congress allege budget offic-- but accort office, if america's growth was just .1% lower, our cumulative debt, the annual difference between twha we collect in taxes and what the government 13e7bdzs over the next ten years would go up by $3 11 billion. that's with a b. likewise, if annual inflation was 1 percentage point above what the...
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Nov 4, 2013
11/13
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and global economy. nevertheless, growth in europe remains weaking with domestic remains weak with domestic demand particularly. it's critical that surplus countries contribute more to demand as deficit countries undergo adjustment. europe must also press forward on measures to address high unemployment and the formation of a strong banking union. after years of economic weakness and depolice station, japan appears to be turning an economic corner. economic growth has improved and policymakers have demonstrated a commitment to economic transition. this will require a careful balancing of fiscal policy and reforms that increase domestic demand. economic growth across many emerging market economies remains positive but has slowed somewhat. the slowdown is primarily because post-crisis stimulus has waned. the demand for exports has fallen. credit conditions have tightened. while these head winds will put pressure on some emerging economies going forward, most emerging markets have strengthened their institu
and global economy. nevertheless, growth in europe remains weaking with domestic remains weak with domestic demand particularly. it's critical that surplus countries contribute more to demand as deficit countries undergo adjustment. europe must also press forward on measures to address high unemployment and the formation of a strong banking union. after years of economic weakness and depolice station, japan appears to be turning an economic corner. economic growth has improved and policymakers...
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Jul 14, 2015
07/15
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but too often they are also polarizing our economy. benefiting high-skilled workers but displacing or downgrading blue collar jobs and other mid level jobs that used to provide solid incomes for millions of americans. today's marketplace focuses too much on the short-term. like second-to-second financial trading and quarterly earnings report. and too little on long-term investment. meanwhile, many americans are making extra money renting out a spare room, designing websites selling products they designed themselves at home or even driving their own car. this on demand or so-called gig economy is creating exciting opportunities and unleashing innovation. but it's also raising hard questions about workplace protection and what a good job will look like in the future. so all of these trends are real and none, none is going away. but they don't determine our destiny. the choices we make as a nation matter. and the choices we make in the years ahead will set the stage for what american life in the middle class in our economy will be like in
but too often they are also polarizing our economy. benefiting high-skilled workers but displacing or downgrading blue collar jobs and other mid level jobs that used to provide solid incomes for millions of americans. today's marketplace focuses too much on the short-term. like second-to-second financial trading and quarterly earnings report. and too little on long-term investment. meanwhile, many americans are making extra money renting out a spare room, designing websites selling products...
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Mar 6, 2014
03/14
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obviously, what's made our economy the cutting edge economy is our innovation and our ability to translate technical and scientific breakthroughs into commercial endeavors. we should have a tax code that encourages that on a predictable basis where it's not changing constantly. we tried to do structural changes and how we would provide the tax credit for research and experimentation to make it meet the needs of businesses today, not looking back 20 years. i think we always have to look forward. we can't have a tax code designed to deal with the challenges of either 1960 or 1980. we need the -- a tax code that deals with the challenges of 21st century and we tried to put proposals together that do that and look forward to working with this committee to get that accomplished. >> thank you. thank you for your testimony. thank you, mr. chairman. i was talking about my county commissioners earlier, speaking of predictability, not a single one said they ever passed a continuing resolution as way of resolving their budget issues. with that, i yield the floor. >> thank you, senator. we turn to sen
obviously, what's made our economy the cutting edge economy is our innovation and our ability to translate technical and scientific breakthroughs into commercial endeavors. we should have a tax code that encourages that on a predictable basis where it's not changing constantly. we tried to do structural changes and how we would provide the tax credit for research and experimentation to make it meet the needs of businesses today, not looking back 20 years. i think we always have to look forward....
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Aug 29, 2016
08/16
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economy, as we look ahead, are we need to grow the economy faster. there are various ways you can think about doing that. but there are some obvious ways that we are not doing. we are not modernizing our infrastructure, roads, bridges, highways, train systems, sewer systems -- whatever. all of those need to be modernized. it would create some jobs in the process and some not bad paying jobs. essential toe is looking at the future, as is development of the skills of the workforce, staying on the forefront of science. that does not tell you exactly what you should spend it for. you should spend it well and on sensible projects. we don't always do that. that is the question we ought to be talking about. threat that we are not talking about at all -- maya keeps trying -- if we go on doing what we are doing in the federal budget, we are facing a debt, and one that is growing quite rapidly looking down the line. why is that? we have an aging population and socialcommitted to security benefits, but more importantly, to health benefits for people as they get
economy, as we look ahead, are we need to grow the economy faster. there are various ways you can think about doing that. but there are some obvious ways that we are not doing. we are not modernizing our infrastructure, roads, bridges, highways, train systems, sewer systems -- whatever. all of those need to be modernized. it would create some jobs in the process and some not bad paying jobs. essential toe is looking at the future, as is development of the skills of the workforce, staying on the...
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Sep 30, 2014
09/14
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the bottom line is we don't act despite the economy, we act because of the economy. it came to our -- i came to rff because you understand the power of an economy that values clean water, that values clean air and that values our natural resources. you get that because climate isn't just about polar bears and melting icecaps. you understand that it's about protecting local economies, and it's about creating jobs. as well as protecting polar bears and melting icecaps. [laughter] the good news is climate action is not just a defensive play anymore. we can advance the ball. we can turn our challenge into an opportunity to modernize our power sector and to build a low carbon economy that will fuel growth for decades to come. that story of energy progress is being written all across america. epa's historic fuel economy standards for cars and trucks are cutting pollution, saving families money at the pump and fueling a resurgent auto industry that added more than 250,000 jobs since 2009. automakers didn't fold, they flourished. since president obama took office, wind energ
the bottom line is we don't act despite the economy, we act because of the economy. it came to our -- i came to rff because you understand the power of an economy that values clean water, that values clean air and that values our natural resources. you get that because climate isn't just about polar bears and melting icecaps. you understand that it's about protecting local economies, and it's about creating jobs. as well as protecting polar bears and melting icecaps. [laughter] the good news is...
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Oct 26, 2013
10/13
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economies are about momentum. we could have a economic we had a ategy where ore pro jobs, pro recovery fiscal policy right now that ncluded -- that did not have this harmful sequester. e could have more savings that were on both the revenue and entitlement side that were long the and would help in future. and we could make sure that we re making room for the things that almost everybody thinks we need to do more of. ing buy kpwhroel research from n.i.h. the efforts to make sure young from poor families have a chance to have a fair start when they go to kindergarten. i have not had any business leader come tell me they think united states needs to invest less in infrastructure. none. so, a pro growth fiscal policy has it is onebama that has as component a strategy to have balanced, long-term with discipline, deal entitlements and revenues for the long-term situation, but lso includes allowing this recovery to get more momentum and allowing us to do the are in the that critical ingredients of economic growth and com
economies are about momentum. we could have a economic we had a ategy where ore pro jobs, pro recovery fiscal policy right now that ncluded -- that did not have this harmful sequester. e could have more savings that were on both the revenue and entitlement side that were long the and would help in future. and we could make sure that we re making room for the things that almost everybody thinks we need to do more of. ing buy kpwhroel research from n.i.h. the efforts to make sure young from poor...
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66
Dec 14, 2013
12/13
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how do you give a diagnosis of the economy? it looks like the recession precipitated habits by businesses and corporations. i mean, sorry, households and corporations that are much more cautious and long lasting. how do you talk about that as a central bank without being so down beat you actually form expectations to a lower growth trend? do you know what i mean? i think the fomc has to come clean on their forecast. >> are you asking why is their forecast wrong or are you asking begin that we seem to be in this period of disappointing growth, what do they do about it? >> my question is, is it time for them to be more honest perhaps about their forecast? >> i reject the premise of your question. >> they're just wrong. they're not lying. >> predicting has been very difficult. i think it's a combination of things we don't fully understand. so for one, things have happened that haven't been anticipated. one was the euro crisis and potential for the break-up of the euro zone which came back to the u.s., not only in european recessio
how do you give a diagnosis of the economy? it looks like the recession precipitated habits by businesses and corporations. i mean, sorry, households and corporations that are much more cautious and long lasting. how do you talk about that as a central bank without being so down beat you actually form expectations to a lower growth trend? do you know what i mean? i think the fomc has to come clean on their forecast. >> are you asking why is their forecast wrong or are you asking begin...
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63
Apr 9, 2015
04/15
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our debt now equals our entire economy. and special interests continue to hold the government hostage. together we'll take our country back from the special interests that use washington as their personal piggybank. the special interests -- [applause] these special interests seem to be more concerned with their own welfare than with the general welfare. the washington machine that gobbles up our freedoms and invades every nook and cranny of our lives must be stopped. [cheers and applause] when i first rand for offers nobody thought i could win including my wife. nobody thought i could win. they said, why are you running? but i said the answer is the same now and then. i have a vision for america. i want to be part of a return to prosperity, a true economic boom that lifts all americans. a return to a government restrained by the constitution. a return to privacy opportunity, liberty. [applause] too often when republicans have won we squandered our victory by becoming part of the machine. if the republican win then we become
our debt now equals our entire economy. and special interests continue to hold the government hostage. together we'll take our country back from the special interests that use washington as their personal piggybank. the special interests -- [applause] these special interests seem to be more concerned with their own welfare than with the general welfare. the washington machine that gobbles up our freedoms and invades every nook and cranny of our lives must be stopped. [cheers and applause] when...
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73
Nov 22, 2013
11/13
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unemployment insurance strengthens our economy and in our economy does better more jobs are created and more americans are working and that is exactly what out-of-work americans want more than anything else right now. they wanted job. if my republican colleagues want any ideas to grow our economy they must look in the eyes of millions of out-of-work americans who are struggling to make ends meet today. all republicans can offer our blank stares to match their blank agenda. and with that my colleague and friend from new york. >> thank you, joe. it is now public that house republicans actually have a daily playbook to sabotage, to ambush and to repeal the affordable care act and that playbook shows exactly who they are. they do not have a playbook to create jobs. they do not have a playbook to build infrastructure. they do not have a playbook to reform immigration. they don't even have a budget. they don't have a playbook to actually actually fix the broken health care system. they have a playbook that will take us back to the days of the system that didn't work, that would lead hard-work
unemployment insurance strengthens our economy and in our economy does better more jobs are created and more americans are working and that is exactly what out-of-work americans want more than anything else right now. they wanted job. if my republican colleagues want any ideas to grow our economy they must look in the eyes of millions of out-of-work americans who are struggling to make ends meet today. all republicans can offer our blank stares to match their blank agenda. and with that my...
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Jul 16, 2014
07/14
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economy. >> you would agree zero interest rate policy is tending to make people reach for yield now, and is an impetuous toward bubble creation and certain asset classes? >> it can be. that's why we are watching very carefully. >> is there any one particular air yaur worrying about right now in terms of asset bubbles? >> i mentioned leverage lending and corporate debt markets, especially lower rated companies. i think we are seeing deterioration in lending standards. we are attentive to risks that can develop that banks or others may be taking on interest rate risk. if interest rates, when interest rates ultimately begin to rise, that if firms or individuals have taken risks and aren't adequately prepared to deal with them, that can cause distress. among the institutions that we supervise we are certainly looking at management of interest rate risk. we are using stress testing in this latest round. we had specific scenarios designed to look at how large banking organizations would fare if inte
economy. >> you would agree zero interest rate policy is tending to make people reach for yield now, and is an impetuous toward bubble creation and certain asset classes? >> it can be. that's why we are watching very carefully. >> is there any one particular air yaur worrying about right now in terms of asset bubbles? >> i mentioned leverage lending and corporate debt markets, especially lower rated companies. i think we are seeing deterioration in lending standards. we...
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Sep 16, 2014
09/14
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this has a ripple effect through our economy. i met with a group of realtors over the summer, and one of the things they talked about is that they are seeing first-time home buyers delay buying a home because of the costs of student loans. so to put this issue into perspective, i want to talk about some of the people that i have met who have been burdened by their student loans. first is calvin. he was a young soldier from new hampshire who i met at walter reed medical center. he was there recovering from losing his leg after stepping on an i.e.d. in afghanistan. he was married and had a young child, and we were talking about the challenges that he was facing after he recovered from his injuries, but what impressed me the most about our conversation in addition to his commitment to this country, it was that the thing he was most concerned about wasn't losing his leg, it wasn't where was he going to get a job after he got out of the military. it was how were he and his wife going to pay back their student loans? another college gr
this has a ripple effect through our economy. i met with a group of realtors over the summer, and one of the things they talked about is that they are seeing first-time home buyers delay buying a home because of the costs of student loans. so to put this issue into perspective, i want to talk about some of the people that i have met who have been burdened by their student loans. first is calvin. he was a young soldier from new hampshire who i met at walter reed medical center. he was there...
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May 25, 2016
05/16
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CSPAN3
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this new economy goes by many names. online platforms. the even heard it called economy. it is changing the face of america. the dizzying pace of this change has presented opportunities and challenges. these new platforms and dramatically change the way we could work. this new generation of workers want to set their own hours. on one on-demand platform on multiple platforms. this is the essence of economic liberty. the power of the free market. these entrepreneurs are running your bureaucratic resistance. they've gone largely unacknowledged. we hearing from a growing chorus there arens saying new and unnecessary obstacles to success in this field. people often pay too much in taxes. not having the records to back up their deductions. the irs has not been part of the solution for entrepreneurs. a current tax system is not working for most americans. we will discuss some of these problems and discuss potential solutions as well. i'm looking forward to hearing from the panel. now we will hear from the ranking member ms. velazquez of new york. velazquez: development of has be
this new economy goes by many names. online platforms. the even heard it called economy. it is changing the face of america. the dizzying pace of this change has presented opportunities and challenges. these new platforms and dramatically change the way we could work. this new generation of workers want to set their own hours. on one on-demand platform on multiple platforms. this is the essence of economic liberty. the power of the free market. these entrepreneurs are running your bureaucratic...
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Aug 27, 2014
08/14
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there is economy in timeliness. when cases moved through a court system without undue processing delays, outcomes are more accurate and the cost of competitive reconsideration disappears. it is cheaper to resolve these cases that the trial court immigration level, rather than clogging the appellate courts. our current system makes the expensive outcomes almost inevitable and the cost for more -- it cost far more than it would cost to invest properly in immigration trial courts in the first instance. we urged a clear common sense solution of doing things right the first time. we are at the creation of an independent court under article one. the time for this has come. >> good morning, everyone, and thank you for joining us today. judge marks has taken you through the looking glass with an overview of the court system and how it differs in many ways. i am sure you will find it curiouser and curiouser as i give you specific examples of how our courts and law enforcement agency causes problems solved by establishing imm
there is economy in timeliness. when cases moved through a court system without undue processing delays, outcomes are more accurate and the cost of competitive reconsideration disappears. it is cheaper to resolve these cases that the trial court immigration level, rather than clogging the appellate courts. our current system makes the expensive outcomes almost inevitable and the cost for more -- it cost far more than it would cost to invest properly in immigration trial courts in the first...
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Sep 15, 2016
09/16
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-- boundless potential of the american economy. an american economy that will be driven by empowering working families and businesses large and small. encouraging entrepreneurs to invest, to build and to grow and to produce right here in america again. and so let me say it is a joy for me, it is a privilege for me. but it is also a distinct honor to introduce to you the next president of the united states of america, donald trump. [applause] mr. trump: thank you very much, ladies and gentlemen. it's a great honor to be with you. we had some really incredible things happen today. the polls are coming out, we're leading in so many polls. i can't tell you, i don't know where to begin. but that's a good feeling. we are, i guess cnn just came out, we're leading nationwide with cnn. we're leading in ohio and we're leading just -- i think it just came out, we're leading in north carolina, florida, we're leading and we're having a lot of fun. we're having a lot of fun on the campaign. nd on the trail. i just wanted to say that -- it's alwa
-- boundless potential of the american economy. an american economy that will be driven by empowering working families and businesses large and small. encouraging entrepreneurs to invest, to build and to grow and to produce right here in america again. and so let me say it is a joy for me, it is a privilege for me. but it is also a distinct honor to introduce to you the next president of the united states of america, donald trump. [applause] mr. trump: thank you very much, ladies and gentlemen....
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42
Nov 3, 2014
11/14
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i'll get a booming economy. i'll become pro-business and pro-growth so people can rise past the minimum wage and be all be. can pat quinn is a phony on the minimum wage. he's also a phony on term limits. he used to say he's on term limits, until he got power. in office sixeen years. he wants ten years. a disaster for us.rs fo phony on this. >> follow-up? quinn, what will you do the day after you're reelected? wage referendum passes. what specific steps will you take, again, after trying over again over a number of years, to actually get something done? build a majority in the months of november and december and we'll have by of aty 1st a minimum wage least $10 an hour in illinois. i just heard my opponent. caller.hampion name all over illinois, he thinks the way to get ahead, i guess, is differentther guy names. i've been for term limits since 1994. i got 500,000 signatures for that and he wasn't around at all. came up this year and says now he's for term limits. i think a record of sticking to issues -- i was a
i'll get a booming economy. i'll become pro-business and pro-growth so people can rise past the minimum wage and be all be. can pat quinn is a phony on the minimum wage. he's also a phony on term limits. he used to say he's on term limits, until he got power. in office sixeen years. he wants ten years. a disaster for us.rs fo phony on this. >> follow-up? quinn, what will you do the day after you're reelected? wage referendum passes. what specific steps will you take, again, after trying...
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Nov 30, 2015
11/15
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building that economy for the future. [applause] i was very proud to be endorsed by maher walsh and have so many of the construction trade unions that have endorsed me. they know that i am going to put them back to work. [applause] we will establish a national infrastructure bank to get more public and private investment flowing. not just bricks and mortars. as important as those are by , 2020, i want 100% of american households to have access to affordable high-speed internet no matter where they live. [applause] we also have to set some big goals for clean energy and for scientific research. i have said, let's install half a billion solar panels in four years and enough renewable energy to power each home in the -- every home in the next 10 years. to get paychecks growing, we must raise the minimum wage so that it no longer is a poverty wage. [applause] now, you know the republicans do not favor that. you've heard them. they've been crisscrossing new hampshire day in and day out. so far as i can tell not one of , them b
building that economy for the future. [applause] i was very proud to be endorsed by maher walsh and have so many of the construction trade unions that have endorsed me. they know that i am going to put them back to work. [applause] we will establish a national infrastructure bank to get more public and private investment flowing. not just bricks and mortars. as important as those are by , 2020, i want 100% of american households to have access to affordable high-speed internet no matter where...
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Sep 17, 2014
09/14
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well, our economy, mr. president, is struggling too much and our national security interests are at stake to be shipping jobs overseas and not having the investments in these countries like iraq and egypt and other places where we want to build security. i believe in the long-term interests of fighting our challenge with extremism around the globe with economic power. i know people are going to talk about military power, people are going to talk about soft power. i believe in economic power that by having an export-import bank and doing business like building roads and building water and building energy facilities actually helps stabilize these areas of the world. well, i'm glad to see that general petraeus also agrees because he said the ex-im bank is integral to our country's security interests. integral. he's watched this both on the ground and he knows and understands what the export-import bank is and he's asking us to give us more certainty and predictability than what a nine-month extension does beca
well, our economy, mr. president, is struggling too much and our national security interests are at stake to be shipping jobs overseas and not having the investments in these countries like iraq and egypt and other places where we want to build security. i believe in the long-term interests of fighting our challenge with extremism around the globe with economic power. i know people are going to talk about military power, people are going to talk about soft power. i believe in economic power...
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27
Feb 4, 2015
02/15
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so we have a solid economy. and an economy in government. i said the people don't understand the gdp. they do understand spending more than we take in. we maxed out our credit cards, we don't have a mortgage payment, maybe we should have a mortgage payment where we monthly pay down some of our debt and then use the interest we save to pay down even more. that's how people buy houses. i looked at the numbers on that. there's no possibility of that at the present time. we keep coming up with brilliant ideas for new ways to spend, to fill in gaps in gifts that we haven't been giving. we don't really take a look at what we already have and need to weed out things that don't wrk. we pretend everything we do is perfection. and with guilty conscience we try to do more. instead we should be doing better. we have over 250 programs that have been authorized. of those, 150 of them are no longer in authorization. but we continue to spend the money on them, even though we don't look at them to see what they do and how they operate and what they should be
so we have a solid economy. and an economy in government. i said the people don't understand the gdp. they do understand spending more than we take in. we maxed out our credit cards, we don't have a mortgage payment, maybe we should have a mortgage payment where we monthly pay down some of our debt and then use the interest we save to pay down even more. that's how people buy houses. i looked at the numbers on that. there's no possibility of that at the present time. we keep coming up with...
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96
Aug 27, 2015
08/15
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iran is a large and sophisticated economy. about the same size in terms of population and income as turkey. larger andabout 40% 40% richer per-person roughly than egypt. it is much more than an oil economy or an oil state. cars.uced 1.6 million that is almost three times as many as italy produces today. admittedly, italy is not a good example of efficiency. [laughter] i was working in italy when they were producing 2 million cars. 1975. iran has an effect on world trade and investment oneworld treatise stuttering. the report says iran could -- the number could be much higher than that. inkey attracted $13 billion 2013 and turkey does not have huge oil reserves in need of technology and money to restart and expand. as for the effect on oil markets, the report stresses the biggest gain for the world economy. i have to say i have my doubts as to whether this is good for the world today. i understand the point that it improves the incomes of oil importers, including the united states. the incomes of oil exporters. but the point is
iran is a large and sophisticated economy. about the same size in terms of population and income as turkey. larger andabout 40% 40% richer per-person roughly than egypt. it is much more than an oil economy or an oil state. cars.uced 1.6 million that is almost three times as many as italy produces today. admittedly, italy is not a good example of efficiency. [laughter] i was working in italy when they were producing 2 million cars. 1975. iran has an effect on world trade and investment oneworld...